Angie Lau

So I want to talk to you about that digital gold narrative.

How did that actually come about and why is it being questioned now?

It sounds like one of the big differences between gold and Bitcoin is that while both are scarce resources, it's actually much easier to store and transact with Bitcoin, right?

So you stated that nation states are increasingly interested in expanding their assets in Bitcoin and cryptocurrency.

Why do you think that is?

So you're no longer tied essentially to somebody else's monetary policy.

That's freedom in and of itself.

The academic discussion of what is Bitcoin is a fascinating one, and the value it has for governments that hold it is important.

But for institutional investors, the more important questions are, what does it behave like, and what factors drive changes in its value?

That would mean that if everything feels a little crazy, you actually do want to kind of have that insurance, if you will.

This is a great time to bring in my next guest, Cosmo Jing.

Cosmo is a general partner and portfolio manager at Pantera Capital, one of the oldest and largest institutional investment firms focused on blockchain and digital assets.

I've asked him to come on the show because I want to explore the impact of digital assets beyond Bitcoin in an investor's portfolio and talk about Omid's last words.

It depends on what else you hold in your portfolio, he said.

So how about it, Cosmo?

What else can an institutional investor hold other than Bitcoin that gives them access to this asset class?

So what about the adjacent opportunities then?

The businesses that aren't crypto protocols or tokens, but are actually connected to the ecosystem.

What do you think about those satellite or adjacent investments?

What do they look like then?